I agree we are on a winner here, with next to no downside! After, reading the reports today I am ready to buy another chunk of this company.
+ Will have $350M in cash and debt free + Baseline oil revenue of say $12M pq (with cyclone) + New hedging due soon to take us from US$70 to near current prices. + Future growth with new wells and 2-3x improvement on current. + Oil still near record highs. + New revenue stream of interest on $350M - say $7m a quarter. + Current market cap of $350M
The only thing stopping us is Chinese and NT Govt approvals. These are no brainers.
The hurdles are now falling quickly, and we will see a good rerating of this company from tomorrow!
AED Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
